Toronto Dominion Bank raised its stake in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 17.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,926 shares of the company’s stock after acquiring an additional 19,368 shares during the period. Toronto Dominion Bank’s holdings in Equitable were worth $3,247,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQH. Norges Bank acquired a new position in Equitable in the 4th quarter valued at $553,559,000. Goldman Sachs Group Inc. raised its holdings in shares of Equitable by 94.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,723,505 shares of the company’s stock worth $115,094,000 after buying an additional 1,811,795 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Equitable by 345.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,691,685 shares of the company’s stock worth $8,223,000 after buying an additional 1,312,193 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Equitable by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 40,143,567 shares of the company’s stock worth $1,240,838,000 after buying an additional 854,689 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Equitable by 129.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,345,994 shares of the company’s stock worth $38,630,000 after buying an additional 758,487 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
EQH has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on Equitable from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Barclays boosted their price target on Equitable from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Equitable currently has an average rating of “Moderate Buy” and a consensus target price of $36.14.
Equitable Stock Up 1.4 %
Shares of EQH opened at $29.19 on Friday. Equitable Holdings, Inc. has a 12-month low of $21.89 and a 12-month high of $33.24. The business has a 50-day simple moving average of $27.97 and a two-hundred day simple moving average of $26.91. The stock has a market cap of $10.14 billion, a PE ratio of 29.49 and a beta of 1.41.
Equitable (NYSE:EQH – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $1.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.17. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.39 billion. On average, equities research analysts expect that Equitable Holdings, Inc. will post 4.94 EPS for the current year.
Equitable Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a $0.22 dividend. The ex-dividend date was Friday, August 4th. This represents a $0.88 dividend on an annualized basis and a yield of 3.01%. Equitable’s payout ratio is presently 88.89%.
Equitable Profile
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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